Coinspeaker
Runes Accounted for Over 57% of Bitcoin Transactions on Halving Day, Here’s Why
Usually, the Bitcoin halving day promises many changes in and around the ever-evolving world of cryptocurrency. From the anticipated reduction in miner rewards to the surging price of Bitcoin, the event holds massive significance to the industry. However, the recently concluded Bitcoin halving 2024 brought some new revelations to the fore as it marked a significant shift in transaction patterns due to the introduction of Bitcoin Runes.
On the day, Runes accounted for a staggering 57.7% of all transactions in a move that appears to signal the beginning of a new era of Bitcoin transactions.
Runes are a new form of data embedded directly into Bitcoin transactions. Unlike typical financial transfers, Runes contain additional information, ranging from simple messages to complex contract-like scripts. This technology operates using a method known as “transaction augmentation.” It al
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